Morgan Stanley completes private equity fund tokenization, CEO Jamie Dimon shifts from hawkish to dovish

Recently, Morgan Stanley announced the completion of its first private equity fund tokenization transaction, marking a significant breakthrough for traditional financial institutions in blockchain applications.

The bank successfully tokenized a private equity fund through its proprietary Kinexys blockchain platform and opened it for subscription to private banking clients.

This innovative transaction was carried out jointly by Morgan Stanley Asset Management, Kinexys Digital Assets, and fund manager Citco, with the core value stemming from the technological innovation of the Kinexys Fund Flow platform.

The platform records investors through tokenization and uses smart Futures to automatically transfer funds between Morgan Stanley brokerage accounts and fund managers, fundamentally changing the traditional private equity fund operation model that relies on manual wire transfers and reconciliation.

Notably, Morgan Stanley CEO Jamie Dimon recently publicly acknowledged at the Future Investment Initiative Conference in Riyadh that “cryptocurrency is real” (contrary to his long-standing skepticism). He also emphasized the key role of smart Futures in enhancing transaction efficiency and improving client service.

In fact, Morgan Stanley has been deeply involved in blockchain for years. The bank launched JPM Coin in 2019; established the Onyx blockchain division in 2020; implemented on-chain intraday repurchase agreements via the Kinexys platform in August this year; and plans to fully promote the Kinexys Fund Flow platform by early 2026, aiming to gradually add more functional zones.

This progress by Morgan Stanley coincides with a critical shift in the US digital asset regulatory environment. Following President Trump’s signing of the Genesis Act this summer to establish a stablecoin regulatory framework, traditional financial institutions are accelerating their blockchain deployments.

This trend has also triggered a chain reaction within the banking industry. Goldman Sachs and New York Mellon Bank jointly launched digital tokens for money market funds in July; Citigroup has partnered with Coinbase to connect traditional banking with blockchain finance.

In summary, Morgan Stanley’s successful private equity fund tokenization not only validates the practical value of blockchain technology in improving financial service efficiency but also signals a comprehensive overhaul of investment management modes for alternative assets like private equity.

#私募股权 #Fund Tokenization